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Below is an Interesting article I found, which says that.....Do not
. S. }, n0 v4 b% D3 A0 l* h% K& n7 Vexpect much from Crude Oil producers and future is not with the 1 M) |# o3 X) f8 F8 G
companies producing Jet fuels but Biofuels. Also no wonder if some of
0 D' _, m( p! V( _these oil producer will go bankrupt or out of the business even if 8 O' e) \* r. F: F L) T' x: l: S' r
crude prices improves. This implies also to good names such as Shell,
0 z# v, Z/ J6 A, f* C) a' L+ kEXXON, BG, BP, Cheveron ....xyz.. oils
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* H P, w# _: uRecently OPEC reduced crude oil production twice over just a few # S8 O9 m& {2 ? x6 A, ?
months. There are three wars going on in Gaza, Iraq and Afghandistan. & W7 a0 A8 p$ l; H7 P A( w
A year ago these things would have spiked the price of crude oil by at
( P3 S- f: W9 _least $50.00 per barrel. Today, oil price declined by a record amount. 8 @5 `2 r' k2 D! V
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, ]3 o# [$ ^6 pThere are several reasons the price of oil is decreasing in the face
5 b0 X D. Z5 ~' [3 T- cof so much news. These reasons are: ' g4 z% c0 K( |
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1. New oil has been found in Canada, Montana, North & South Dakota and
2 K* E4 j) p+ y0 S- [in the ocean near Brazil. Each of these oil fields has more oil than 8 v1 Q* R2 ]$ O. e Z1 ]) m
Arabia.
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2. New natural gas has been found in Pennsylvania and West Virginia.
, P; k7 E+ H- g6 E2 z5 c( OThis is the largest find in North America.
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* k" r3 c" p5 a5 w# k4 Q3. New methods of injecting CO2 and surfactants into oil wells is
! B5 P7 [$ X5 L0 I* ^" ibeing used to double their output.
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4 r$ ~, d( l* ~- ]6 `8 s7 v+ h* o4. Production of bio-fuels is beginning to reach critical mass. Bio : Y- V5 ~6 u) H8 b9 H4 v# `
fuel is being produced from many plants and algae. The production
0 a% h' j- Y& d! z" ~potential per acre in some cases is astounding. Many countries are 5 W* p8 W6 i- c
racing to produce bio fuels.
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5. Virtually every restaurant in the US and all food processing plants , n) I( V, ?/ @' e- F
are now selling their used oil to bio-diesel producers. Every pork,
, {) U7 `$ U; e4 j7 Q" F3 gcattle, turkey and chicken processing plant will soon sell their fat
, F2 }+ ?. o5 L0 xto bio-diesel producers. One pork processing plant in Oklahoma is
$ q; e. F6 e) @+ H. u) y, @producing 30,000 gallons of bio-diesel per day from pork fat.
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: V0 U1 R! e+ {3 p) ] Z' A6. There are 99 nuclear reactors in various stages of planning and 8 K1 I2 f) ]! x3 J, x: ~
construction around the world at this time. Several hundred more are $ }, b$ Q* k& ~; p4 t1 V
expected to be built in the future. Much of the energy they produce 0 P) k$ K) m e# d$ [# G c
will replace oil. # y$ H! \6 P4 k* V2 k
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# ?) m: q, }+ ?. }. h4 i( D7. Every company in any form of transportaion business is replacing ' N1 ]( D3 e5 Q4 m; C" m0 d
older equipment such as trucks, airplanes, train engines, ships, etc. 4 b M0 u3 n1 e% D5 ~$ O! q. v
with new more fuel efficient equipment. Airlines and railway companies
& @4 C) y0 L3 W0 o7 L7 _8 h: hare experiencing 20% to 25% better fuel econony with the new
3 L+ Z L% Y3 \3 Iequipment.
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Airlines are flying airplanes with bio-fuel. They are finding the bio- ; D" |; j. m" u O
fuel is cleaner and performs better than jet fuel.
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8. Cities and counties throughout the US are selling the rights to
/ T+ z! \8 j3 f* t M u6 g7 bcapture methane gas from landfills. This is a huge source of gas
3 k) B1 N/ Y4 P# i9 p+ a( q7 Davailable at very little cost or risk. The gas is displacing crude
: t' D' ^6 E$ }' Aoil. 2 s- x' [& x; e& o
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/ \& S+ T# Z% Z7 a9. Coal is being transformed into a clean burning liquid fuel. The CO2 # I" s9 ?7 d" V* G( L
produced as a byproduct is sold to oil companies for injection into
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10. Solar, wind and ocean energy is displacing oil as an energy " Y8 b! @. G3 g) d8 f/ K/ S
source. Three new wind turbines are being erected every day in the US.
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1 x: s# c2 B) l* m3 y+ AEach of the above by itself will not make a large difference in the
8 ?% z, a" n7 T0 j7 z; |price of crude oil but the sum of all of them together is world e5 p6 q0 X# F H
changing. The important thing is that OPEC no longer has the ability * \2 ]' `" P# i
to control oil prices.
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# L; B9 v6 _; a# s. GWith the above scenario, I still believe that there are under
9 C4 r3 d0 u0 T" Y4 d. N8 s- j: Uperformed OIL companies and probably they are yet to get the justified
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IAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... : f7 ^7 D0 B$ K3 r9 P
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The above articles are from WSJ .............PUBLISHED ON 9TH JAN
! h2 Y# S' L( Y% I" Q2009 ... FYI-Only |
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